Desert Mountain Energy Corp. (TSX.V: DME, U.S. OTC: DMEHF, Frankfurt: QM01) headquartered in Vancouver, BC, made an announcement on September 16, 2024, regarding the successful separation of commercial volumes of helium from a complex natural gas stream. The company reported that the processing plant has been operational, recirculating and enriching helium, with the end product being delivered to an end user’s tube trailer. Following the resolution of various start-up issues by the DME team, the facility has been in commercial operation.
It is expected that the current production revenue will cover the overall corporate G&A expenses, although this will not be reflected in the audited year-end financials for September 30, 2024. The company forecasts a gradual increase in sales volumes and revenue, focusing on well workovers and reducing the small percentage of produced water.
During the relocation of the facility from Arizona, an AI component was integrated. Currently, the AI is undergoing training through data collection while commercial processing continues. Data collection is crucial for the system to effectively learn and function as additional wells are brought online. Each well has unique chemical compositions that the plant must adapt to, and it is progressing towards autonomy, requiring minimal human intervention for operation.
The geological team is actively reviewing downhole data to identify the most viable wells for increased helium production. Additionally, they are examining regional data to enhance the understanding of geological controls and identify locations with potential for higher helium grades. Some wells are displaying elevated levels of hydrogen, necessitating further investigation to determine the root causes of these occurrences.
Desert Mountain Energy Corp. is a publicly traded resource company focused on the exploration, development, and production of helium, hydrogen, natural gas, and condensate. The company prioritizes helium extraction from various raw gas sources in an environmentally and economically sustainable manner, supplying critical elements to industries such as renewable energy and high technology.
Safe harbor sought by:
“Robert Rohlfing”
Robert Rohlfing
Exec Chairman & CEO
Disclaimer: This press release may contain forward-looking statements, and the company acknowledges potential risks and uncertainties in the market. The company does not assume any obligation to update forward-looking statements beyond what is required by law.
SOURCE Desert Mountain Energy Corp.
For further information, please contact:
Don Mosher, President & Director
(604) 617-5448
Email: [email protected]
